Zacks: Analysts Anticipate Tencent Music Entertainment Group (NYSE:TME) Will Announce Earnings of $0.08 Per Share

Wall Street brokerages expect Tencent Music Entertainment Group (NYSE:TMEGet Rating) to report earnings per share of $0.08 for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Tencent Music Entertainment Group’s earnings. Tencent Music Entertainment Group posted earnings of $0.10 per share in the same quarter last year, which would suggest a negative year over year growth rate of 20%. The business is expected to report its next earnings results on Monday, January 1st.

On average, analysts expect that Tencent Music Entertainment Group will report full-year earnings of $0.32 per share for the current year, with EPS estimates ranging from $0.30 to $0.33. For the next financial year, analysts forecast that the company will report earnings of $0.33 per share, with EPS estimates ranging from $0.29 to $0.38. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Tencent Music Entertainment Group.

Tencent Music Entertainment Group (NYSE:TMEGet Rating) last issued its quarterly earnings results on Monday, May 16th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.48. The business had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.65 billion. Tencent Music Entertainment Group had a net margin of 9.01% and a return on equity of 6.21%. The company’s revenue was down 15.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.09 EPS.

TME has been the topic of several analyst reports. Zacks Investment Research cut shares of Tencent Music Entertainment Group from a “buy” rating to a “sell” rating in a research note on Saturday. JPMorgan Chase & Co. decreased their price objective on shares of Tencent Music Entertainment Group from $6.00 to $3.50 in a research report on Monday, March 14th. The Goldman Sachs Group started coverage on shares of Tencent Music Entertainment Group in a research report on Sunday, April 10th. They set a “sell” rating and a $5.60 price objective on the stock. Finally, HSBC decreased their price objective on shares of Tencent Music Entertainment Group from $5.10 to $3.90 in a research report on Tuesday, May 17th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $8.67.

Shares of Tencent Music Entertainment Group stock traded up $0.07 on Wednesday, hitting $3.74. 966,438 shares of the company’s stock were exchanged, compared to its average volume of 17,463,119. The company has a 50-day simple moving average of $4.52 and a 200-day simple moving average of $5.70. The stock has a market capitalization of $6.27 billion, a PE ratio of 14.39, a PEG ratio of 1.31 and a beta of 1.12. Tencent Music Entertainment Group has a 1 year low of $2.95 and a 1 year high of $16.53. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.56 and a current ratio of 2.28.

Large investors have recently modified their holdings of the business. JJJ Advisors Inc. boosted its stake in shares of Tencent Music Entertainment Group by 74.5% during the 4th quarter. JJJ Advisors Inc. now owns 5,940 shares of the company’s stock worth $41,000 after purchasing an additional 2,536 shares during the period. HighTower Advisors LLC purchased a new position in shares of Tencent Music Entertainment Group during the 1st quarter worth about $51,000. Lindbrook Capital LLC boosted its stake in shares of Tencent Music Entertainment Group by 294.8% during the 4th quarter. Lindbrook Capital LLC now owns 8,251 shares of the company’s stock worth $57,000 after purchasing an additional 6,161 shares during the period. Ground Swell Capital LLC boosted its stake in shares of Tencent Music Entertainment Group by 25.5% during the 1st quarter. Ground Swell Capital LLC now owns 13,223 shares of the company’s stock worth $64,000 after purchasing an additional 2,690 shares during the period. Finally, American International Group Inc. boosted its stake in shares of Tencent Music Entertainment Group by 71.1% during the 3rd quarter. American International Group Inc. now owns 8,901 shares of the company’s stock worth $65,000 after purchasing an additional 3,700 shares during the period.

About Tencent Music Entertainment Group (Get Rating)

Tencent Music Entertainment Group operates online music entertainment platforms to provide music streaming, online karaoke, and live streaming services in the People's Republic of China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover and listen to music in personalized ways; and WeSing, which enables users to have fun by singing and interacting with friends, sharing their singing performances with friends, and discovering songs that others have sung.

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